Download - FEAS

More documents

Recommendations

Info

FEDERATION OF EURO-ASIAN STOCK EXCHANGES ANNUAL REPORT APRIL 2011 BAKU STOCK EXCHANGE In 2010 the Baku Stock Exchange celebrated its 10th anniversary. Khayal Abdinov Chairman 2010 was the iconic year for the Azeri capital markets and its major driving forces – Baku Stock Exchange and State Committee for Securities. Baku Stock Exchange was established in 2000 and past year it celebrated its 10th anniversary. We managed to introduce the new law governing collective investments schemes which was ratified during the same year. The ratification of the law effectively started a new era in the development of the capital markets of the country. Thus it is not surprising that the conference the BSE held to celebrate its 10th anniversary was titled “Collective investments: global experience and opportunities”. The global financial crisis which started in 2008 and continued its development through ‘09 and ‘10 gave to many of us time to reconsider its priorities and strategies. Baku Stock Exchange dedicated big portion of 2010 on improving the capital markets knowledge base among the population and professional community. For the professional market participant - brokers, banks, regulators etc. the stock exchange deployed the “CFA I” type trainings. As in the previous years, the management of the BSE continued to focus on reducing operational and activity-related risks as well as optimizing the internal structure of the company. We continue to modernize and improve our IT capabilities and expand our listing and product bases. I would like to take this opportunity to first of all congratulate the <strong>FEAS</strong> with the 15th anniversary and congratulate Mr. Mustafa Baltaci with his appointment as the new Secretary General of our federation. HISTORY AND DEVELOPMENT As far back as we could track the history of the ancient people living between the mountain ranges of Lesser and Greater Caucasus, on the current territory of modern Azerbaijan, they have always enjoyed the presence of international trading and the culture of deal making was very well accepted and praised in the area. But anyone visiting Azerbaijan wouldn’t need to study history to find the proof of that. It is enough just to visit one of many bazaars to be a part of the constant deal making. Once experienced this you will understand that the favorable geographical situation of Azerbaijan was not the only reason why the ancient Silk Way was passing through the territory of the country. Given the above, it is not surprising that in the early days of Azerbaijan’s independence the pragmatic leader of the country Heydar Aliyev envisioned the creation of capital markets infrastructure – modern day’s “marketplace”. The vital part of this infrastructure was Baku Stock Exchange which was established in October 1st 2000 with the help of local and international financial organization most of which became the shareholders of the company. Currently Closed Joint Stock Company “Baku Stock Exchange” has 19 shareholders. Milestones in BSE’s history The Initiative Group for the establishment of the stock exchange gathered – December 25th 1999 The first BSE’s Shareholders Assembly – February 15th 2000 State Committee for Securities granted an exchange license to the BSE – July 21st 2000 The first placement of the short-term government bonds on the BSE – September 1st 2000 The official opening ceremony of the exchange – October 1st 2000 Election of the BSE to the Federation of Eurasian Stock Exchanges – November 2nd 2001 Introduction of first repo to the market – November 22nd 2001 The first transaction in corporate bonds on the exchange – January 26th 2004 The first placement of corporate bonds denominated in foreign currency – March 5th 2004 The first equity trade conducted via the exchange – April 15th 2004 The placement of the Central Bank’s Notes for the first time on the BSE – September 14th 2004 Introduction of the interbank repo instrument to the market – May 24th 2006 The first placement of the mid-term government bonds on the exchange – March 16th 2009 The placement of the bonds of Azerbaijan Mortgage Fund on the BSE – June 16th 2009 Introduction of the new trading system with remote access capabilities for the members – July 2nd 2009 Effective date for the new listing rules – August 1st 2009 International conference dedicated to the newly adopted listing rules – September 29th 2009 Starting of the “Capital markets training” project with the help of EBRD – January 21st 2010 Celebration of 10th anniversary of Baku Stock Exchange and conducting of an international conference on “Collective investments: global experience and opportunities” – September 29th 2010 FUTURE OUTLOOK As a part of the overall strategy for the development of BSE and capital markets of Azerbaijan, in 2011 the exchange will continue focusing on some of the previous issues as well as trying to tackle new ones: • to continue promotion of listing as well as create new market tools; • to create internal risk management group; • influenced by market trends to further optimize the organizational structure of the exchange; • to continue working on creation of fully automated DVP PAGE 36
FEDERATION OF EURO-ASIAN STOCK EXCHANGES ANNUAL REPORT APRIL 2011 BAKU STOCK EXCHANGE OFFICIAL 6 MONTH STATISTICS US$ millions # Shares millions Total Volume Average Daily Volume Total Volume Average Daily Volume Stocks Jul-10 18.86 0.94 0.61 0.03 Aug-10 37.75 1.99 9.90 0.52 Sep-10 10.72 0.63 0.16 0.01 Oct-10 7.92 0.49 6.49 0.41 Nov-10 34.59 2.16 0.14 0.01 Dec-10 360.50 18.02 107.89 5.39 TOTAL 470.34 4.04 125.19 1.06 Bonds Jul-10 85.87 5.37 0.32 0.02 Aug-10 77.87 5.19 0.39 0.03 Sep-10 95.01 6.79 0.57 0.04 Oct-10 85.07 6.08 0.54 0.04 Nov-10 177.93 13.69 1.21 0.09 Dec-10 155.93 9.17 0.97 0.06 TOTAL 677.69 7.71 4.00 0.05 Other Jul-10 56.98 2.71 0.46 0.02 Aug-10 139.39 6.34 1.12 0.05 Sep-10 101.41 5.07 0.81 0.04 Oct-10 55.04 2.62 0.44 0.02 Nov-10 75.06 5.77 0.60 0.05 Dec-10 159.93 8.42 1.28 0.07 TOTAL 587.79 5.16 4.71 0.04 Market Capitalization (US$ millions) Index MONTHLY STOCK VOLUME (US$ millions) VOLUME BY TYPE (%) Stocks Bonds Other Jul-10 N/A N/A Aug-10 N/A N/A Sep-10 N/A N/A Oct-10 N/A N/A Nov-10 N/A N/A Dec-10 N/A N/A 400 350 300 250 200 150 34 27 100 50 0 Jul Aug Sep Oct Nov Dec 39 CONTACT INFORMATION Contact Name Mr. Kamran Aliyev E-mail k.aliyev@bse.az Website www.bse.az PAGE 37
Page 1: FEDERATION OF EURO-ASIAN STOCK EXCH
Page 4 and 5: FEDERATION OF EURO-ASIAN STOCK EXCH
Page 89 and 90:
FEDERATION OF EURO-ASIAN STOCK EXCH
Page 91 and 92:
Page 93 and 94:
Page 95 and 96:
Page 97 and 98:
Page 99 and 100:
Page 101 and 102:
Page 103 and 104:
Page 105 and 106:
Page 107 and 108:
Page 109 and 110:
Page 111 and 112:
Page 113 and 114:
Page 115 and 116:
Page 117 and 118:
Page 119 and 120:
Page 121 and 122:
Page 123 and 124:
Page 125 and 126:
Page 127 and 128:
Page 129 and 130:
Page 131 and 132:
Page 133 and 134:
Page 135 and 136:
Page 137 and 138:
Page 139 and 140:
Page 141 and 142:
Page 143 and 144:
Page 145 and 146:
Page 147 and 148:
Page 149 and 150:
Page 151 and 152:
Page 153 and 154:
Page 155 and 156:
Page 157 and 158:
Page 159 and 160:
Page 161 and 162:
Page 163 and 164:
Page 165 and 166:
Page 167 and 168:
Page 169 and 170:
Page 171 and 172:
Page 173 and 174:
Page 175 and 176:
Page 177 and 178:
show all

Download - FEAS

Create successful ePaper yourself

Delete template?

Save as template?